International ship manager Bernhard Schulte Shipmanagement (BSM) and the Cyprus Marine and Maritime Institute (CMMI) have signed an MoU to launch True North 72 – an initiative that aims to encourage innovation across the maritime supply chain and logistics industries
The companies said the collaboration will capitalise on both partners’ shipping expertise, global reach and specialist technical expertise to create an environment for experimentation. The initiative has the end goal of creating new markets, services or products. And as such the joint programme will use the companies’ capabilities to research and explore the commercialisation of ideas in areas of strategic interest.
BSM board member and director of strategy Yiannis Sykas stressed the need for innovation.
"The industry has reached a turning point and the coming decade will be critical in defining the next generation of maritime trade and business," he said.
CMMI chief executive Zacharias Siokouros said "CMMI, as an R&I Centre of Excellence for the marine and maritime sectors, aspires to become a partner of choice for all relevant blue economy research, technology development and innovation activities at a local, regional, European and global level. The institute aims to promote excellence in research and innovation, investing in creative capital, fostering education, training and entrepreneurship, and nurturing socio-economic and cultural transformation overall."
This latest investment in innovation comes when the maritime industry is undergoing a shift in its existing business models as it aims to become more environmentally friendly. Aided by state funds, companies are now investing in fuel cell technology and bunkering as they push to make these nascent technologies commercially ready.
Get the latest information and viewpoints on maritime issues during Riviera Maritime Media’s series of webinar weeks on key technical subjects in shipping